Intel to invest $5 billion in new US plant

Intel has announced a $5 billion investment in a new chip plant in Arizona.

Dubbed Fab 42, the new plant is expected to employ about 4,000 workers once it is completed in 2013. Among other things, the new fab will be used to develop the new 14nm manufacturing process.

In related news, US President Barack Obama has named Intel CEO Paul Otellini to the administration’s jobs and competitiveness council. In this economy, it’s probably a nice idea to offer some perks to CEOs who invest a few billion in Arizona rather than overseas.